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The tariffs on the two biggest sources of U.S. crude imports will raise costs for the heavier crude grades U.S. refineries need for optimum production, industry sources said, cutting their ...
President-elect Donald Trump doubled down on his tariff threats Thursday night, pledging to raise tariffs on European Union nations unless they increase their purchases of American oil and gas to ...
Following its withdrawal from the European Union on 31 January 2020, the United Kingdom began negotiations on several free trade agreements to remove or reduce tariff and non-tariff barriers to trade, both to establish new agreements and to replace previous EU trade agreements.
By 2021, North Sea oil and natural gas production is predicted to slip 75 percent from 2005 levels to less than one million barrels per year. Oil and coal reserves for all of Europe are among the most tenuous in the developed world: for example, Europe's reserves to annual consumption ratio stands at 3.0, [10] perilously low by world standards.
The oil and gas industry in the United Kingdom produced 1.42 million BOE per day [4] in 2014, of which 59% [4] was oil/liquids. In 2013 the UK consumed 1.508 million barrels per day (bpd) of oil and 2.735 trillion cubic feet (tcf) of gas, [5] so is now an importer of hydrocarbons having been a significant exporter in the 1980s and 1990s.
Europe is the largest importer of American gas and was expected to increase its purchases in the future
A Canadian-style trade deal offers the UK a reduction on most custom tariffs between the EU and the UK, but without eliminating VAT, customs and phytosanitary checks. [2] The arrangements for its dominant financial services sector are of particular importance to the UK.
But despite the threat of tariffs from the US, the think tank urged the Government to focus on easing trade with the EU given 47% of UK goods exports are sold in the bloc, while also pursuing ...